List several characteristics that differentiate business transactions from consumer ones? The term BIB refers to transactions between 2 businesses where both the buyer and seller are business owners. Hence, in BIB environment, the product is not sold to end users. Buyers purchase products in large quantities to satisfy the demands of their local consumers. Where, BBC refers to transactions between a business and end-user. An example of BBC can be one of any local stores.
The store is a business which sells products to local consumers or end users. Today, with the e- amerce developments we can say that online stores like Amazon or Ebay are also considered as a BBC business. As for marketing for these two types, there are some characteristics which differs them from each other. When you are marketing to a BIB you want to focus on the logic of the product. You do this by focusing on the features of the product. There is little personal emotion involved in the purchasing decision.
You want to focus on understanding the organizational buyers and how they operate within the confines of their organization’s procedures. The BIB market has a thirst for knowledge and they are information seekers. As a marketer in BIB area you should be more in-depth with your marketing materials. Your most effective marketing message should be focused on how your product or service saves them time, money and resources. When you are marketing to a consumer you want to focus on the benefits and values of the product.
Mostly the buying decision is based on the emotions or personal attitudes to that product. Consumers are less likely to be interested in a lengthy marketing message. They will want you to get right to the point. Consumers don’t want to work to understand your benefits, instead they will want you to clearly point out the benefits to them. Your most effective marketing strategies should focus on the results/values and the benefits that your product or service will bring to them. There are some characteristics, which will help to understand clearly the differences between the BIB and BBC areas. B BBC Audience is seeking efficiency and expertise Audience is more likely to be seeking deals and entertainment BIB clients want to be educated and provided with expertise BBC customers Just want to enjoy themselves, be happy with their purchase and have adequately fulfilled needs Highly detailed content is required for BIB marketing BBC buyers have a fairly simple purchasing needs that don’t demand extended support from or relationships with a brand. BIB purchases are motivated by things like business goals, budgets, and, you guessed it, vendor relationships.
BBC purchases are generally fueled by emotions and basic human needs such as sustenance, shelter, and comfort. The BIB buying cycle is often much longer because BIB decisions are meant to complete long-term goals. BBC buys tend to satisfy immediate needs Brand identity in BIB markets is created through personal relationships and consultative selling. Brand identity in BBC markets is created through advertising and BIB marketing By Anal-Unsuppressed Question 2 Why is it important to manage relationships in the supply chain?
Do you agree that this should be the Job of the marketing manager? Supply chain management by its very nature depends on relationships and connections. The term “relationships” covers a lot of ground in supply chain management. There are strategic relationships, tactical relationships, transactional relationships, internal relationships, and possibly more. There are also relationships among members of the supply chain community. In general, it’s important in the business area to have high-trust, high communication, mutually beneficial relationships between customer and organization.
In an ideal supply chain relationship, both customers and suppliers get connected in ways that allow them to easily exchange information, demand data, and the visibility of status. It means working together to reduce costs and improve quality, and understanding capacities and capabilities. According to the facts, main functions of supply chain management are : inventory management, distribution management, Handel management, payment management, financial management, supplier management, transportation management, customer service management.
So if we look deeper, we will realize that all the aspects mentioned above could also be suitable for the marketing research. And of course, marketing manager should be or has to be the part of that management, because according to marketing research the company usually decides which products to present, produce and sell, which target audience and distribution channels to choose, what the pricing strategy to implement, how to manage the budget of the marketing department and how that ill affect the budget of the whole company and many more factors which are important for organization in its normal working process.
Question 3 Why should a marketing manager have an insight into what motivates a business customer to purchase decisions? Marketing and consumer behavior are intrinsically connected. Without grasping a level of understanding of what drives consumers, marketers would have a pretty difficult time identifying the right market segments and putting together a marketing campaign that will attract attention. Studying consumers helps marketers improve their strategies because it gives them stronger insight into understanding buyer behavior.
By obtaining a view into how consumers think, feel, reason and choose, marketers can use this information to not only design products and services that will be in demand, but also how to present these options to the consumer base in an attractive fashion and make the contract/agreement in the end. Motivation in marketing is not so easy to determine and of course, for marketers it’s really hard work to find those factors which could motivate the clients to make the purchasing decision and moreover to become loyal to you, because the B business is more oriented on building long-term relationships between the customer and the company.
Question 4 Please write a commentary of at least 10 lines about what you learnt from this article and / or your opinion http://ventures. Com/2014/10/05/is-there-room-for-comedy- in-bib/ The following article is basically about how BIB marketing could attract customers’ attention and also provide the customers with the content and features should not be hard and full of content, because still in BIB marketing the clients are humans and as the author showed, the BBC marketing tricks could be also used for B marketing in the form of humor, videos and stories.
The speech about the features could be interesting, however still the decision will be made by human, so as a BIB marketer it’s necessary to also make the marketing emotional and memorable. Moreover, it’s not always necessary to spend lots of money for marketing the product, it could be Just a video or some catchy slogan. The most important is to show in your marketing message that you and your product could solve the customer’s problem and the only thing which customer/client should do is to make the purchase decision.